PRECIOUS-Gold prices rise slightly on steady dollar

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BENGALURU, Aug 2 (Reuters) - Gold inched higher in early
trade on Thursday, recovering from its fall in the previous
session when the U.S. Federal Reserve kept interest rates
steady, as the dollar held steady.
FUNDAMENTALS
* Spot gold was up 0.2 percent at $1,218.22 an ounce
at 0052 GMT, after losing 0.65 percent in the previous session.
* U.S. gold futures were, however, 0.1 percent lower
at $1,226.80 an ounce.
* The dollar index , which measures the greenback
against a basket of six major currencies, was unchanged at
94.641.
* The U.S. Federal Reserve kept interest rates unchanged on
Wednesday as expected but characterized the economy as strong,
keeping the central bank on track to increase borrowing costs in
September.
* U.S. short-term interest rates futures were little changed
on Wednesday as traders stuck to the view that the Federal
Reserve would raise key borrowing costs two more times in 2018
with the next rate hike seen happening at its Sept. 25-26 policy
meeting.
* The Bank of England looks set to raise interest rates on
Thursday to their highest level since the financial crisis
almost a decade ago, defying warnings that it is taking a gamble
ahead of Brexit, the terms of which remain unclear.
* U.S. President Donald Trump sought to ratchet up pressure
on China for trade concessions by proposing a higher 25 percent
tariff on $200 billion worth of Chinese imports, his
administration said on Wednesday.
* China's central bank will fine-tune monetary policy in a
"pre-emptive" way to ensure liquidity is reasonably ample, it
said on Wednesday, amid heightened trade tension that has
stiffened economic headwinds.
* The United States believes Iran is preparing to carry out
a major exercise in the Gulf in the coming days, apparently
moving up the timing of annual drills amid heightened tensions
with Washington, U.S. officials told Reuters on Wednesday.
* SPDR Gold Trust , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.40 percent to
796.96 tonnes on Wednesday from 800.20 tonnes on Tuesday.
* Barrick Gold Corp will make a bigger push to
attract institutional investors in China under a new deeper-ties
pact with Shandong Gold , aimed at bolstering its
shareholder base, executives told Reuters.
DATA AHEAD (GMT)
0900 Euro zone Producer prices Jun
1100 Bank of England announces interest rate decision
1230 U.S. Weekly jobless claims
1345 U.S. ISM-New York index Jul
1400 U.S. Factory orders Jun
(Reporting by Apeksha Nair in Bengaluru; Editing by Subhranshu
Sahu)